Question
Marco Chip, INC. just issued zero-coupon bonds with a par value of $1000. The bond has a maturity of 14 years and a yield to
Marco Chip, INC. just issued zero-coupon bonds with a par value of $1000. The bond has a maturity of 14 years and a yield to maturity of 8.63 percent, compounded semiannually. What is the current price of the bond?
Round the answer to two decimal places.
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Exchange Rates and International Finance
Authors: Laurence Copeland
6th edition
273786040, 978-0273786047
